§ [No. 43]
§ Clause 39, page 31, line 34, leave out paragraph (b).
§ THE EARL OF LIMERICK
My Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 43. Clause 39(4)(b) maintained the status quo as laid down in the Industrial Assurance Act 1923 and as repeated in Schedule 2, paragraph 6(8), of the Insurance Companies Act 1958. The anomaly of different arrangements for appointing independent actuaries, according to whether or not industrial assurance is involved in a proposed transfer of long-term business under Clause 26, was criticised. The Amendment removes that anomaly by bringing the industrial assurance procedure into line with the ordinary long-term one. My Lords, I beg to move 1586 that this House doth agree with the Commons in their Amendment No. 43.
§ Moved, That this House doth agree with the Commons in the said Amendment.—(The Earl of Limerick.)